9 2 % o f b r a n d s believe that they can do more with POS data! - - PowerPoint PPT Presentation

9 2 % o f b r a n d s believe that they can do more with POS data!

Victor Coscarella Director of Marketing Askuity Eric Green CEO & Co-Founder Askuity

INTRODUCTIONS

▸ Why POS data? ▸ About The Survey ▸ The Results ▸ Who is managing and leveraging POS data? ▸ How is POS data being used today? ▸ Where is the industry heading? ▸ 2018 POS Data Study pre-release instructions

TODAY’S AGENDA

▸ Consumption > Shipments ▸ Information is power ▸ Sales Planning ▸ Regional trends

▸ Promotions ▸ New Product Launches

▸ Meeting customer/buyer expectations ▸ Shelf space is real estate

WHY POS DATA?

Daria Dolnycki Partner, Strategic Analytics and Modelling (Former Target Buyer) Deloitte

“POS is rich with information but the power is in how brands leverage it to drive insights – it’s no longer about just recapping what happened in the past to inform future

• decisions. It’s about taking POS data to the next level,

looking at it from a more granular level and letting it show the future by understanding how consumers are shopping vs what products are selling. This shift in mindset has brands thinking “outside the box” to drive strategy. Brands who have pivoted and leveraged their data from a different angle have uncovered new pockets of

• pportunity to leverage in driving growth and

differentiation in a saturated market.”

EXPERT INSIGHTS

RESPONDENT OVERVIEW

496 PARTICIPANTS 339 BRANDS

13 RETAIL VERTICALS

3% 3%

5% 5% 6% 6% 6% 8% 9% 10% 11% 28%

Home Improvement / Building Materials Health & Personal Care Food & Beverage Housewares Beauty & Cosmetics Electronics Baby & Children / Toys Fashion & Apparel Sporting Goods, Fitness & Outdoor Office Supplies Automotive Pet Products Alcoholic Beverages

Respondents by Retail Vertical

ABOUT THE SURVEY

4% 8% 8% 11% 12% 48%

Sales C-Suite Analytics / Insights Marketing Other Field Rep Category Mgmt. IT Planning Operations Supply Chain Number of Employees

1-50 51-200 201-500 501+

% of Respondents

29% 15% 26% 30%

Respondents by Company Size Respondents by Job Function

ABOUT THE SURVEY

THE RESULTS

DATA IS TRENDING

• On average, 63% of

brands are actively using their POS data to drive business decisions

• Some verticals

(Housewares, F&B and Personal Care) are well ahead of others (Sporting Goods, Electronics, Baby & Children/Toys)

Brands actively using POS data by vertical

48% 50% 55% 58% 61% 62% 63% 69% 74% 74%

Housewares Food & Beverage Health & Personal Care Home Improvement Fashion & Apparel Office Supplies Beauty & Cosmetics Sporting Goods & Outdoor Electronics Baby & Children / Toys

Avg = 63.2%

POS REPORTING & DATA MANAGEMENT

▸ There are 4 main ways that reporting and

analytics is currently managed; the vast majority of analysis is being done in-house

▸ Respondents from companies with SKU-

intensive businesses (200+ SKUs) are more likely to have data managed by a centralized team of analysts

▸ When reporting and analytics sits with

analysts dedicated to each account or with national account managers, data insights are brought to the retailer more often (76% and 71%, respectively)

POS REPORTING & ANALYTICS

3%

7% 16% 22% 26% 27%

A single analyst National Account Managers A centralized team of analysts Analysts dedicated to each retail account Other A third party consultancy / sales agency

SOURCE OF THE PROBLEM

Rank Retailer Portal Challenges EDI Challenges 1 The portal is difficult to navigate (57%) Time consuming to format data (50%) 2 The portal does not allow me to compare metrics easily (52%) Data is difficult to manipulate and analyze (50%) 3 The portal does not supply enough information [e.g granular enough data, demographic data, comp. stores] (49%) Data is incomplete/incorrect (34%)

HOW POS DATA IS BEING LEVERAGED

MOBILIZING FIELD SALES

No 20%

Yes (Internally Employed) 64%

Yes (Outsourced) 16%

Do you have a field sales team?

▸ A strong majority of respondents indicated

that their companies employ field sales representatives (80%)

▸ Brands without a field presence are more than

twice as likely to report that they are lagging the competition vs. those with an internal field team

▸ Not having a field team does not necessarily

impact how often insights are brought back to the retailer

▸ 64% of respondents do not have a clear

understanding of field team ROI.

Benjamin Ertl Director of Business Development Retailbound

“The retail model is constantly changing. Experience or event driven shopping is where the trend is going. Creatively developing POS tactics on top of understanding the data correctly to improve sell-through is one way for brands and retailers to stay competitive together.”

EXPERT INSIGHTS

Does your field sales team have real-time access to POS data on a mobile device?

No 47%

Yes 53%

No 19%

Yes 81%

Do you think your field sales team would benefit from having real-time access to POS data on a mobile device?

MOBILE: THE GREAT ENABLER

≠

Juliet DePina Former National Sales Manager (Retail) Louisiana-Pacific Corporation

“I can now put a real number

• n increases in sales as a direct

result of the investment in our field team. And that is massive.”

EXPERT INSIGHTS

LET’S REVISIT: WHY POS DATA?

No 8%

Yes 92%

Do you think your team can make better use of POS data?

How? ✓ Improve forecasting to reduce safety stock levels (69%) ✓ Better tracking of new product launches (62%) ✓ Improve on-shelf availability / Reduce out of stocks (58%) ✓ Improve promotional effectiveness (57%) ✓ Strengthen buyer/planner relationships (57%)

{

↑14% ↑3% ↑19% ↑1% ↑6%

• vs. Last Year

Kelly Kovack Founder and CEO BeautyMatter.com

“In today's hyper competitive retail landscape the brands that capture, synthesize and make data actionable have a distinct competitive

• advantage. New product launches have

become the lifeblood of many beauty brands, and the ability to track and forecast them effectively can be the difference between success and failure.”

EXPERT INSIGHTS

WHAT’S AHEAD

CAN I HELP YOU WITH THAT?

18% 44% 19% 19%

Currently Using a Solution Actively Looking For a Solution Passively Looking to Invest in a Solution Not Looking for a Solution

Sales planning and forecasting 72% Dashboards and retailer scorecards 68% Automated collection of data from portals, EDI and spreadsheets 67% Self-service access for business users 43% A mobile application (iOS/Android) 39% Integration of syndicated and market- level data 37%

What are you looking for in a POS analytics solution?

▸ The strong majority of brands surveyed this year

indicated that they are either already using a solution, or looking to invest in a solution (82%)

▸ Brands who have invested in a solution are 57% more

likely to report that they are always using data in the decision making process

▸ Purpose-built solutions have the upper hand ▸ Investment in purpose-built solutions is up vs. last

year (49% vs. 22%, respectively)

▸ Those brands who have invested in a modern

purpose-built solution are twice as likely to report that they are ahead of their competitors versus those without a solution in place.

CAN I HELP YOU WITH THAT?

18% 44% 19% 19%

Currently Using a Solution Actively Looking For a Solution Passively Looking to Invest in a Solution Not Looking for a Solution

Sales planning and forecasting 72% Dashboards and retailer scorecards 68% Automated collection of data from portals, EDI and spreadsheets 67% Self-service access for business users 43% A mobile application (iOS/Android) 39% Integration of syndicated and market- level data 37%

What are you looking for in a POS analytics solution?

Juliet DePina, Former National Sales Manager (Retail) Louisiana- Pacific Corporation

“Data is plentiful in the retail world, but insights and real analytics are difficult. Without robust analytics tools that are intuitive and easy to use, finding trends and opportunities is time consuming. Making decisions and tracking progress are so important for delivering results.“

EXPERT INSIGHTS

THANK YOU!

Email: info@askuity.com Phone: 1-416-583-5830 Web: www.askuity.com LinkedIn: www.linkedin.com/company/askuity Twitter: @Askuity

Askuity

Retail Sales Enablement Platform